Sustainable investment

Sustainable investment

Key figures

Financial statement as per 31.12.2017 31.12.2016 31.12.2015
KEY FINANCIAL FIGURES
CHF CHF CHF
Balance sheet total based on DCF valuation of the properties and companies 384 068 157 361 442 796 328 514 469
Unbuilt land 13 043 929 13 043 929 13 043 929
Investment properties 176 987 111 137 437 300 104 847 300
Properties for sale 58 555 113 52 256 219 38 144 018
Properties under construction, work in progress 102 155 531 122 694 584 138 253 692
Income from property rentals 6 773 140 5 247 221 3 828 514
Property expenditure 1 428 006 1 298 333 916 118
Property income 5 345 134 3 948 888 2 912 396
Earnings before interest and tax (EBIT) 10 172 143 6 802 159 2 778 458
Earnings for the period before tax (EBT) 8 545 845 5 647 177 621 193
Result for the period 6 759 022 4 160 141 707 957
Equity capital (excluding proprietary shares) 238 969 433 231 445 778 195 455 991
Market capitalisation 256 557 353 249 753 885 215 267 260
Equity ratio (including proprietary shares) 62,54% 64,18% 59,49%
Return on equity p.a. before tax 3,53% 2,42% 0,32%
Return on equity p.a. (ROE) 2,79% 1,79% 0,36%
KEY NUMBERS PER SHARE
Number of shares Number of shares Number of shares
Issued shares 3 014 775 2 938 281 2 532 556
Shares with voting rights 3 014 775 2 938 281 2 532 556
Shares with dividend rights (excluding proprietary shares) 2 975 232 2 802 441 2 406 801
CHF CHF CHF
Profit p.a. per share with dividend entitlement 2.27 1.48 0.29
Dividend (or proposed dividend)/Repayment of capital contribution 1.70 1.40 0.26
Equity capital per share (valued at purchase values based on Swiss GAAP FER) 79.27 78.77 77.18
Equity capital per share based on DCF valuation 85.10 (*) 85.00 85.00
(*) Trade rate from 15.3.2017

Investment strategy

At carefully chosen sites, bonainvest Holding invests responsibly for the long-term  in properties that are developed and built in compliance with the bonacasa concept. bonainvest Holding offers capital providers an advantageous investment opportunity in rental properties based on the bonacasa concept and generating a gross target yield of 4.5%.

bonacasa invests in Smart Living solutions to further extend its market leadership for networked living in properties built by bonainvest and the housing stock of its business clients.

Shareholding structure

The shareholding structure comprises 122 investors, including prestigious pension funds, insurance companies, foundations and some private investors.

Leading shareholders

Investor Anteil
Pensionskasse Coop CPV/CAP 12.18
Migros Pensionskasse 9.66
Fonds interprofessionnel de prévoyance 5.18
Gebäudeversicherung Bern 4.83
Caisse de prévoyance de l'état du Valais CPVAL 3.93
Previva 3.90
Ivo Bracher 3.73
Genossenschaft Migros Luzern 3.05
others 53.54

Shares

The issue price of a new registered share is CHF 85.10, based on the net asset value calculated by Ernst & Young AG (EY) in September 2015. bonainvest Holding pays the Federal issue stamp duty of 1%.

Trade in shares via the management body satisfies shareholders’ requirements in that up to a value equivalent to CHF 1 million, shares owned by a shareholder who wishes to sell may be acquired by bonainvest Holding at the current trading price, less 3% commission. The shares may also be transferred directly without a discount by the shareholder to another investor.

Key data

Current trading value CHF 85.10
Share with a par value of CHF 10.00
Valoren No. 1107545
ISIN No. CH0011075451

Market capitalisation in CHF million

Aktienwert Ende Gegenwert Kapital
2009 27.01
2010 36.78
2011 55.20
2012 112.17
2013 151.37
2014 189.19
2015 215.27
2016 249.75
2017 256.56
2018 261.81

Equity ratio

The return on equity capital is between 2 and 2.5% during the development and construction phase of major property projects. After completion, it will be in the order of 3%. Thanks to its clear strategy, cautious approach to risk-taking, robust financing and high earning power, bonainvest is well placed to achieve ongoing corporate value growth.

Capital increases

bonainvest Holding makes regular capital increases to finance growth. The last capital increase was implemented on 11 June 2018 with a value of CHF 5.26 million. The equity ratio is 62.54% (situation on 31.12.2017).

Dividend policy

bonainvest Holding’s dividend policy and the amount of future dividends depend on a number of factors, including income, the financial situation, need for liquidity, the group’s general business prospects, legal obligations in relation to the distribution of dividends and other factors. Taking all these factors into account, bonainvest Holding aims to achieve a stable dividend distribution. Dividends are paid out tax-free from the reserves from capital contributions.

Calendar

Continuous (as required) Capital increase
Continuous Open days and viewings